Wolfson Bolton PLLC Wolfson Bolton PLLC

General Products Corporation Files Bankruptcy, Seeks Quick Sale of Assets

General Products Corporation, a full service supplier of engineered, complex, and precision machine components and assemblies for the automotive and heavy-duty truck markets, filed Chapter 11 bankruptcy on June 27, 2016 in the United States Bankruptcy Court for the Eastern District of Michigan. The case is pending in Detroit before Judge Thomas J. Tucker. General Products identified the cause of its filing as declining demand for products and increased capital requirements. A motion to sell substantially all of General Products' assets has been filed, requesting a sale closing on or before August 22, 2016. The case is In re General Products Corporation, Case No. 16-49267.

Categories: 
Related Posts
  • Delaware Court Holds Anti-Reliance Provisions Do Not Bar Fraudulent Inducement Claim Read More
  • Chapter 11’s 547(b) Amendment: What Does “Due Diligence” Mean for Preferential Payment Claw Backs? Read More
  • Is an Unsigned Contract Containing an Arbitration Clause Enforceable? Read More